Choi Tae-won Reaffirms "103 Trillion Won Investment in Eco-friendly Businesses for 'Carbon Neutrality'"
Introducing Subsidiary Green Business Investment Cases via LinkedIn
Chairman Chey Tae-won of SK Group delivering a speech on the role of businesses at the 2022 New Year's Meeting of the Business Community held at the Korea Chamber of Commerce and Industry in Jung-gu, Seoul, on January 4th. Photo by Kim Hyun-min kimhyun81@
View original image[Asia Economy Reporter Moon Chaeseok] Chey Tae-won, Chairman of SK Group, who is actively engaged in Environmental, Social, and Governance (ESG) management, has once again confirmed his plan to invest more than 100 trillion won in eco-friendly industries.
On the 2nd, Chairman Chey wrote on the social networking service (SNS) LinkedIn, "The United Nations suggests that sufficient private and international financing is necessary to lead the global economy to 'net zero' (zero net carbon emissions)," adding, "SK Group aims to invest $85 billion (approximately 102.7 trillion won) in eco-friendly businesses." Previously, at the '2021 CEO Seminar' held in October last year, Chairman Chey stated, "SK Group should contribute to reducing 200 million tons of carbon, about 1% of the global carbon reduction target of 21 billion tons by 2030." At that time, CEOs of SK affiliates also responded to Chairman Chey's plan by pledging to invest more than 100 trillion won in eco-friendly new businesses such as electric vehicle batteries and hydrogen, and Chairman Chey has now reaffirmed this plan.
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Chairman Chey also introduced eco-friendly business investments by major affiliates. He said, "SK Siltron produces silicon carbide wafers that can improve the energy efficiency of electric vehicles (EVs)," adding, "The company is investing $302 million (approximately 365 billion won) to meet the increasing demand." He further noted that SK E&S invested $1.6 billion in the U.S. hydrogen energy company Plug Power, and SK Inc. invested $100 million in environmentally friendly food companies, including alternative meat.
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